Paid Assessment Letter & 22.1 Disclosure FormIn compliance with Illinois Law (Chapter 765, Section 605/22.1 of the Illinois Compiled Statutes), when selling your unit you'll be asked by your lender for a paid assessment letter from the management company.
This letter from the management company indicates whether or not all assessments are current. This letter also reflects any pending charges such as repair costs, fines, legal fees for units in collection, planned special assessments, or liens that the association may have filed against your unit and the amount of the lien.
Please allow 15 business days for us to prepare the Section 22.1 form and the paid assessment letter. You may call us at (877) 419-BWAY if you need immediate assistance.
Mail processing fee payments to the address below:
Evanston, IL 60204
Note: Make your payment out to Breakaway Management. Also be sure to include the unit number and to indicate that this payment is for a paid assessment letter.